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Davao City, Philippines

Police file 26 cases vs investment scheme firms

August 01, 2019 - Thursday 11:08 AM by Ruth Palo

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DAVAO CITY -- The Police Regional Office (PRO) 11 has filed a total of 26 cases against operators, founders, coordinators, and agents of several investment firms offering unusually high return on investments for their failure to return their investors’ capital.

PRO 11 spokesperson Police Major Jason Baria said of the 26 cases, six complainants filed a case for violation of Presidential Decree 1689 (increasing the penalty for certain forms of swindling or estafa) against eight individuals from the Asia Business Corporation or RDFLEX Trading Marketing.

Another nine investment companies allegedly operating investment schemes in Davao del Sur are facing the charges of large scale or syndicated estafa file by 56 investors.

Baria identified the companies as ENCO Enterprise Company, Questlink Digital Marketing, Titan 29 Marketing, BCT Marketing and Car Trading, A 21 Marketing, Jogle Innovative Marketing, LK638 marketing, Omega, and Dreamzion Beauty and Health Hub.

Baria said seven investors from Davao City are also preparing to file cases against Crowd Royal Real Estate Service, whose officials can no longer be reached.

PRO 11 director Brigadier General Marcelo Morales said the number of cases will increase since there are still investors who are yet to decide on the matter.

“We are always open 24/7 to assists them. Sa kapulisan, hindi naman kami nagkulang sa paalala about investment scams na ito,” he said.

(We in the police force have not been remiss in reminding people about these investment scams.)

“We even conducted inspections. In fact, we asked some establishments to voluntarily close down their office since during our inspection, they could not show us permits especially from the SEC (Securities and Exchange Commission),” Morales said.

He warned the public to be wary and refrain from getting lured into unsafe investing.

On June 8, 2019, President Rodrigo Duterte ordered a total stoppage of the operations of investment schemes in Southern Mindanao that were offering extraordinary returns ranging from 30 percent to 500 percent.